Tin recovers on renewed industrial demand

Tin prices recovered smartly in an otherwise sluggish non-ferrous metal market here today following buying by stockists amid renewed demand from alloy industries.
While, nickel slumped on selling by stockists and select copper eased due to reduced offtake from consumer industries.
On the global front, the industrial metal copper ruled stable in early trade at the LME, as last week's losses in prices blunted consumer buying, while liquidity thinned ahead of a holiday-shortened week in many countries.
Tin spurted by Rs 15 per kg to Rs 1,360 from last Friday's closing level of Rs 1,345, while lead and zinc inched up by a Re per kg each to Rs 133 and Rs 171, respectively.

However, nickel plunged by Rs 30 per kg to Rs 995 as compared to its previous level of Rs 1,025.
Copper cable scrap, copper armiture, copper wire bar and copper sheet cutting softened by a Re per kg to Rs 444, Rs 431, Rs 464 and Rs 426, respectively.